Insurance company Chubb underwrote the bond for Trump, which the former president signed on Tuesday. Under the terms of the bond, Chubb will only secure the appeal of the $83.3 million judgment, not any future appeals.
Let me save you some trouble:
Chubb Limited is an American company incorporated in Zürich, Switzerland. It is the parent company of Chubb, a global provider of insurance products covering property and casualty, accident and health, reinsurance, and life insurance and is the largest publicly traded property and casualty insurance company in the world
Of course it’s the Chubb group. Of course. It’s funny they are supposedly a huge corp, but the only time I hear about them is when they’re meddling and buying politicians
I hope they got their own appraiser, because the Trump org is infamous for making up numbers. Better check the paperwork at city hall, too, to make sure there are no undisclosed mortgages, leans, or easements on the property.
I imagine it’s fairly standard boilerplate for the situation ‘You must install corporate fascism and give me a job with medals and stuff if we manage to lie and cheat you into power again’
Well, not financially anyway. Maybe a promise for a future political favor if he wins? Not that I’d accuse a Swiss financial interest of working with fascists…
It was definitely not directly from Trump.
Let me save you some trouble:
Of course it’s the Chubb group. Of course. It’s funny they are supposedly a huge corp, but the only time I hear about them is when they’re meddling and buying politicians
I would love to know about more instances about this.
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Wouldn’t be the first time Trump has paid good money for a chubb
so some of us premium payers took the risk, and he could send us a personal letter like he did when “He” sent us Covid Relief Checks.
I wonder what kind of insane terms are on that loan
I think he probably put up a building or two as collateral, kind of like a HELOC. If it’s not paid back, they repo the building(s).
I hope they got their own appraiser, because the Trump org is infamous for making up numbers. Better check the paperwork at city hall, too, to make sure there are no undisclosed mortgages, leans, or easements on the property.
An institution capable of making risky loans of substantial size certainly should have high quality risk and valuation assessment capabilities.
I imagine it’s fairly standard boilerplate for the situation ‘You must install corporate fascism and give me a job with medals and stuff if we manage to lie and cheat you into power again’
Not that it would matter. Trump doesn’t honor agreements.
Well, not financially anyway. Maybe a promise for a future political favor if he wins? Not that I’d accuse a Swiss financial interest of working with fascists…
Exactly. So what kind of terms would it take for someone to loan nearly 100m to someone like that?